An increase of 25% for electricity and 25-30% for gas against September 2021 would lead to values to +50 – 60% against last year, states Claudiu Cazacu, consulting strategist with XTB, brokerage house listed with Warsaw Stock Exchange. In Europe, the quotations of the gas and electricity have registered record values, day in day out. Similarly, such an acceleration of the prices is unprecedented in history. The environment does not look at all like the previous one, and things change in a rapid rhythm. Every day the balance of the market may change, he says. ‘What is in store for the consumers of Romania? As there is no capping of prices, very painful growth of the cost of utilities, not good news in the conditions where inflation, announced as 6.29% surpasses the official estimates at the beginning of the year and could continue. Spain and other states together with Romania require a joint approach at European level as regards the purchase of natural gas and a mechanism of compensation – in the present situation capping interventions would be accepted by the European authorities only through waiver. Subscriptions and compensations already accepted (0.21 lei/kWh for energy and 25% of a key price of125 lei/MWh for natural gas) have an estimated impact of 1.3 billion lei, and can cover only partly the increase of the bills for this winter, if the basic prices for electricity and gas do not come back close to the levels of last year’ he adds. A medium scenario which takes into consideration a moderate slowdown following the surpassing of the present disparities, balancing of the offer/request ( a severe way of doing it would be through the reduction of consumption, of industrial activity or rationing) and increased offer from the producing states would induce bills higher by two figures during the winter months. The inflation data show, in September, growth of 24.65% for electricity and 20.55% for gas.
Social Democrat (PSD) MP Mihai Weber, head of the parliamentary defense committee, came under fire after investigative platform Snoop unveiled his EUR 140,000 hybrid Mercedes AMG GLE 53 purchased this year through a small firm that operates no more than a countryside...
Touching high public expectations for initiating reforms in the judiciary system, Romania's president Nicusor Dan explained in two consecutive interviews given to the public TVR and B1 broadcasters that "it takes time and a critical mass," but assured that he has not abandoned "at all" the idea. On the magistrates' retirement and pensions, he reiterated […]
The Romanian Ministry of Foreign Affairs (MAE) summoned the Russian ambassador to Bucharest on September 11 to convey its position of firm condemnation of the violation of Polish airspace by Russian drones, according to a ministry's press release. "The Romanian side stressed that, by its gravity, implications and scope, the incident represents an unprecedented escalation, […]
Spanish group Ecoener announced it boosts its expansion in the European Union with the upcoming construction of a 54.4 MW wind farm in Miroslovesti, in north-eastern Romania, after being awarded a Contract for Difference (CfD). The company has been awarded a 15-year contract in the Romanian government’s renewable energy tender. It plans to begin construction […]
Pinum, one of the leading door and window manufacturers in Romania, has concluded a financing agreement worth over EUR 10 million with Banca Transilvania for the development of a new factory in northern Bucharest, at Moara Vlăsiei. The total investment exceeds EUR 14 million and will allow doubling the annual capacity for manufacturing doors and […]
The state-owned company Romgaz (stock exchange symbol SNG), the producer and supplier of natural gas, convened its shareholders on October 20 to decide on the issuance of a new tranche of bonds or the supplementation of the inaugural EUR 500 million tranche, massively oversubscribed in 2024, according to a report to investors, quoted by
